The Union Budget 2024 has garnered significant attention, with experts largely praising its balanced approach. Sujan Hajra, Chief Economist & Executive Director at Anand Rathi Shares and Stock Brokers, emphasized that the budget strikes a strategic balance between maintaining fiscal health and pursuing economic growth.
Hajra noted that the budget focuses on infrastructure, manufacturing, and housing, which are essential for the nation’s long-term economic strength. Additionally, the budget includes initiatives aimed at boosting consumption, particularly for the weaker economic sections and the lower- and middle-income classes, through enhanced focus on agriculture, employment incentives, welfare programs, and income-tax relief.
Hajra believes that this budget lays the groundwork for the next five years of the Modi 3.0 government, emphasizing structural growth and benefiting consumption- and infrastructure-oriented sectors. Anand Rathi Shares and Stock Brokers have identified several stocks that are expected to benefit from the strategic measures announced in the budget. These stocks include:
- Astral
- Crompton Greaves Consumer
- Dabur
- Finolex Cables
- Hero MotoCorp
- HG Infra
- HUL
- ICICI Bank
- M&M
- NCC
- Neogen Chemicals
- PNC Infra
- SBI
- Sagar Cements
- Senco
- Siemens
- Shilchar Technologies
- Spandana Sphoorty
- Sumitomo Chemicals
- Suzlon
- Ultratech
Hajra also highlighted that the budget is expected to benefit sectors such as agro-chemicals, automobiles, capital goods, cement, infrastructure, FMCG, metals, retail, and renewable energy. While the IT sector may face challenges due to changes in the share-buyback policy, the financial sector remains largely neutral. Additionally, the change in the indexation norm for real estate is not expected to impact end-user demand significantly
